ECONOMY: Georgian Economy Suffering From Losses in Infrastructure. (tbilisibusinessjournal.com)

The Russian intervention has drastically affected the Georgian economy. Even after the ceasefire, Russian armed units continue destroying the country’s economic infrastructure, railways, communication facilities, ports and roads. The country is suffering great losses. Its transit function is damaged. Most import-export operations are suspended. Some customers started to withdraw their savings from the banks in panic, with the result that banks stopped authorizing overdrafts and limited loans. All this could yield some disastrous results. When the Russians finally pull out, as they eventually will, the country will need huge investments but prospective investors will be very cautious as they would need guarantees that the Russian aggression is never repeated.

Experts think that political stability will need to be established first in order to facilitate economic stability. The rebuilding of the economic infrastructure will take several months and to return the economy to the level it was at before the war might take more time. Of course, serious support from the international community however might expedite this process.

For more:
http://www.messenger.com.ge/issues/1672_august_19_2008/1672_econ_two.html
http://www.usatoday.com/news/world/2008-08-18-georgia_N.htm

UK Foreign Secretary Milliband, US Senators Lieberman, Graham To Visit Tbilisi This Week; Senator Biden Requests $1 million for Economic Development

For more:
http://geotimes.ge/index.php?m=home&newsid=12030
http://www.messenger.com.ge/issues/1672_august_19_2008/1672_supporters.html
http://hotair.com/archives/2008/08/13/mccain-lieberman-and-graham-are-going-to-tbilisi/

Repairs Underway on Baku-Tbilisi-Ceyhan oil pipeline
For more:
http://www.platts.com/Oil/News/8964611.xml?src=Oilrssheadlines1

When Are the Russians Pulling Troops Out? Tactical Missiles Deployed in South Ossetia
Fore more:

http://www.walesonline.co.uk/news/wales-news/2008/08/19/russian-tanks-and-troops-push-further-into-georgia-91466-21556435/

Force majeure declared on Baku-Supsa pipe liftings
For more:
http://georgiandaily.com/index.php?option=com_content&task=view&id=5811&Itemid=74

VIDEO: Russian Tanks Crumple Police Vehicles in Igoeti

For more:
http://tbilisiwebinfo.wordpress.com/2008/08/18/russian-tanks-drive-over-georgian-police-vehicles/

Assistant Editor - Tbilisi Business Journal
Looking for experienced journalist to join the TBJ team. The candidate's main responsibility will be writing and editing the Journal covering the business markets of Georgia, designed to be a concise summary of business, technological and regulatory developments that affect markets here and abroad. The candidate also will be actively involved in several other communications-related functions: contributing articles to a bimonthly magazine, assisting the editor in soliciting and editing articles for the magazine; and developing content for the web site.

The job requires the ability to write clearly, concisely and accurately about business news in both English and Georgian. The job also requires proficiency in copy-editing, proof-reading and fact-checking. 1-2 years experience writing about business markets is a plus but not essential. Send CV and current salary to info@tbilisibusinessjournal.com

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David Matthews Editor, Tbilisi Business Journal

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